... Funds to Support Clinical Development of Carfilzomib ... Paul Hastings Appointed to Board of Directors ...SOUTH SAN FRANCISCO Calif. Sept. 8 /- Proteolix Inc. ...Proceeds from the financing will primarily support the completion oft...

SOUTH SAN FRANCISCO, Calif., Sept. 8 /PRNewswire/ -- Proteolix, Inc., a
leader in the discovery and development of novel therapeutics that target
protein degradation pathways in cancer and autoimmune diseases, today
announced the successful completion of a new financing round of $79
million. The Series C round was led by new investor Nomura Phase4 Ventures.
New investor Westfield Capital Management and existing investors, Advanced
Technology Ventures, Delphi Ventures, Latterell Venture Partners, U.S.
Venture Partners and The Vertical Group, all participated in the financing.

Proceeds from the financing will primarily support the completion of
the company's ongoing Phase 2 clinical trials of carfilzomib, and the
advancement of this anti-cancer therapeutic into Phase 3 clinical trials
for the treatment of multiple myeloma. Proteolix will also use the funds to
advance candidates in the company's earlier stage pipeline of proteasome
inhibitors.

"We are pleased to have completed this significant financing with
participation from such highly-regarded new and existing investors," said
Susan Molineaux, Ph.D., Proteolix's Chief Executive Officer. "Our lead
candidate, carfilzomib, has demonstrated promising results in clinical and
preclinical studies in multiple myeloma and a variety of other tumor types.
Proceeds from this financing will enable us to advance carfilzomib to
registration studies for multiple myeloma while continuing to cultivate
select early-stage assets in our pipeline."

"We have been impressed by Proteolix's team, pipeline and proprietary
expertise in the area of proteasome drug discovery and development. In
particular, carfilzomib has been designed to be a highly selective
candidate against a validated target and has demonstrated promising
clinical data in hematologic malignancies," said Denise Pollar'/>"/>

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